MRI Market to reach USD 8.94Bn by 2029, emerging at a CAGR of 6 percent and forecast 2023-2029

MRI Market Report Scope and Research Methodology

The MRI Market Report offers a comprehensive exploration of the magnetic resonance imaging system industry. It covers a wide array of applications, including neurology, vascular imaging, spine analysis, and cardiac health, among others. The report delves into the market's dynamics, encompassing technological advancements and increased investments in MRI imaging, driving the market's growth. Furthermore, it investigates the growing impact of the geriatric population on the demand for MRI diagnostics. This report provides a holistic view of the MRI market, offering valuable insights into its present and future landscape.

The MRI Market Report is underpinned by a robust and meticulous research methodology that ensures the data's accuracy and reliability. Leveraging advanced techniques such as superconducting magnets, open architecture, high-field MRI, and software applications, our research approach guarantees a comprehensive analysis of the market. Additionally, we have conducted an in-depth examination of the availability and impact of MRI-compatible pacemakers, a factor that significantly broadens the range of patients benefiting from MRI procedures. Our research methodology is designed to provide a trustworthy foundation for the insights and conclusions presented in this report, making it an invaluable resource for industry professionals and stakeholders.

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What are MRI Market Dynamics:

Advances in MRI techniques such as superconducting (SC) magnets, open architecture, high-field MRI, and software applications are all of interest to academic institutes, research laboratories, hospitals, and clinicians. The availability of MRI-compatible pacemakers will vastly expand the number of patients who can benefit from MRI operations. Replacement is driving the rise of MRI equipment in developed markets including North America and Europe. The advent of MRI scanners with bigger patient bores and the replacement of current MRI systems that have attained optimum use are the primary factors for the new wave of replacement.
MRI scanners are available in a range of sizes and magnetic strengths. For MRI systems with a magnetic strength of 1.5T or less, the average sales price is around USD 1.5 million. 1.5T MRI devices with superconducting magnets are likewise very expensive. High-field (3T) MRI equipment, on the other hand, cost around USD 2.5-5 million. Even refurbished low-field MRI devices can run into the millions of dollars. The market's growth is projected to be limited by the high cost of MRI solutions, MRI scanners have the potential to cause implantable devices like pacemakers and ICDs to malfunction or be permanently damaged.

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MRI Market Regional Insights:

Asia Pacific emerges as a region poised for rapid growth. Predicted to experience the quickest rate of expansion during the forecast period, this growth is underpinned by several factors. The growing geriatric population and heightened demand for advanced imaging modalities play a significant role. Additionally, the burgeoning medical tourism industry in Asian countries, such as India, China, and Japan, is contributing to the increasing adoption of MRI technology. These nations offer modern healthcare facilities and services at a lower cost compared to industrialized countries in North America and Europe, attracting medical tourists and creating substantial growth prospects.
These regional insights highlight the diverse landscapes and growth drivers within the MRI market, providing a comprehensive perspective for stakeholders and industry professionals looking to navigate this dynamic industry.

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What is MRI Market Segmentation:

by Application
Spine and musculoskeletal MRI
Brain and neurological MRI
Vascular MRI
Pelvic and Abdominal MRI
Breast MRI
Cardiac MRI

by Architecture
Open MRI Systems
Closed MRI Systems
Standard Bore
Wide Bore

by Field
Strength Low-to-mid Field
High-field
1.5T
3T
Very-high Field

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Who are MRI Market Key Players:
1. Siemens Healthineers
2. GE Healthcare
3. Phillips
4. Hitachi
5. Canon Medical Systems
6. Koninklijke Philips N.V.
7. Aurora Imaging Technologies Inc.
8. General Electric Company
9. Esaote SpA
10.Toshiba Corporation.
11.Aspect Imaging
12.Bruker
13.Fonar
14.Neusoft Medical Systems
15.Shenzhen Mindray Bio-Medical Electronics
16.Xingaoyi
17.Aurora Imaging Technology
18.Sanrad Medical Systems Pvt. Ltd.
19.Mindray Medical International Limited
20.Hologic, Inc.
21.Nordion Inc.
22.United Imaging Healthcare Co., Ltd.

Table of content for the MRI Market includes:

1. Global MRI Market: Research Methodology

2. Global MRI Market: Executive Summary

• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry

3.Global MRI Market: Competitive Analysis

• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact

4 . Company Profile: Key players

• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments

Key Offerings:

• Past Market Size and Competitive Landscape (2022 to 2029)
• Past Pricing and price curve by region (2022 to 2029)
• Market Size, Share, Size and Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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